RON95 and diesel prices to be determined by float system from Dec 1

The Star reported that come December 1, the retail price for RON95 petrol and diesel will be fixed on a managed float, effectively marking the removal of all fuel subsidies.

Under the managed float, similar to that now used for RON97, retail prices would be based on the monthly average world price of crude oil.

The current price of RON95 is RM2.30 per litre while the price of diesel is RM2.20.

The price of RON97 dropped by 20 sen on Tuesday to RM2.55 a litre due to the drop in world oil prices.